Title: Pure Risk Management, Unconventional Transfer and ILSs, the role of Financial Reinsurance

Abstract:

As “insurer of last resort, the reinsurer is intended to absorb the worst outcome of the heaviest risks, those that insurance companies leave or forward on to them for being outside their insurance capacity. Historically, the estimates made by the reinsurance sector – either because they are based on poor technical bases, or because they refer to new risks (difficult to fit in the panorama of traditional risks covered) – are potentially unreliable, at least if you look at the relative frequency with which losses occur. An occasional concentration, even minimal, of extreme events is able to undermine the entire sector. Pure risk securitization, together with the financialisation of insurance products coming with it, are elements of financial innovation that are derived from this periodical lack in reinsurance industry capacity.

Lecturer: Maurizio Pompella

Date/Time: 10:00 – 11:30AM, 3 Dec, 2019

Location: Room 702, CEM Building, Jiangjun Rd. Campus

Brief introduction of the lecturer:

Maurizio Pompella is a Full Professor of Financial Intermediaries Economics at the University of Siena, School of Economics and Management (SEM), Italy. He is currently Dean of the MSc in Economics and Management of Financial Intermediaries. In November 2014 he was certified as Stand-by Professor at the LUISS - Guido Carli University in Rome as well, and since 2015-16 he has been a Visiting Professor and PhD Supervisor at LSU-NN (Lobachevsky State University of Nizhny Novgorod), and Visiting Professor at SibFU (Siberian Federal University, Krasnojarsk), Russian Federation. Maurizio also is in charge of a course at the Charles University in Prague, Czech Republic, since 2012, and is serving as an Adjunct Professor at OMSU (Ogarev Mordovia State University of Saransk, RF).

His areas of expertise/interest include Financial Intermediaries Economics, Insurance Economics, Structured Finance and Innovation, Financial Stability, Alternative Risk Transfer, Fintech and Blockchain, Banking and Monetary Economics, Finance, and Project Finance. He has been serving as a book reviewer for the Journal of Risk and Insurance, published by ARIA – American Risk and Insurance Association, contributes to the ARIA Newsletter, and he is Editor of the Palgrave Studies in Risk and Insurance. Apart from Palgrave, he is serving as reviewer for Economic Modelling, Emerging Markets Finance and Trade, and the Journal of Monetary Economics and Finance. He is also on the Editorial Board of Review of Business (St. John’s University New York, US), the Vestnik of LSU (Nizhniy Novgorod, Russian Federation), EKONOMIKA (Vilnius University, LT), and Business, Management and Education (Gediminas Technical University Vilnius, LT)